Legal professionals amazed as SBF admits failures and apologizes 12 times in interview

Former FTX CEO issued multiple apologies and admitted failings at least a dozen times during interview one hour.

Former FTX CEO Sam Bankman-Fried apologized or admitted failure at least 12 times during his November 30 appearance at the New York Times' DealBook Summit.

In a wide-ranging video interview, Bankman-Fried was asked to answer a number of questions regarding the now-defunct exchange's downfall, with some even suggesting that some of his statements could be used for the incriminate in legal proceedings. .

In a November 30 Twitter post, crypto attorney Jeremy Hogan, a partner at Hogan & Hogan, said Bankman-Fried's "lightweight cross-examination" at the DealBook Summit has already returned "at least 3 statements incriminating so far". ”

SBF faces mild cross-examination at NYT/Dealbook Summit and has made at least 3 incriminating statements so far.

Why are his lawyers (or parents) letting him? ? pic.twitter.com/Nd0poutAA0

Alan Rosca of law firm Rosca Scarlato said it was "pretty amazing that he was actually testifying at the DealBook summit. Hard to think of a precedent for that."

Bankman-Fried's first concession came as he greeted interviewer Andrew Sorkin, when he said, in reference to FTX's collapse:

"Obviously I made a lot of mistakes or things I would give anything to do it again."

An apology came moments later when Sorkin confronted him with a letter written by an FTX client who lost $2 million in savings after the exchange collapsed.

“I am deeply sorry for what happened,” Ban said.